Mikel Arteta says it is "about time" that Arsenal made aggressive moves in the transfer market, as he reflected the sense of excitement in the club's dressing-room at the prospect of Arsène Wenger doing precisely that.

Wenger is determined to sign a world-class forward and Liverpool's Luis Suárez has become his priority. Arsenal are in talks over the Uruguayan and they are prepared to test Liverpool's resolve with a £35m offer, which would most likely be rejected. If they go to £40m, however, it may leave Liverpool with an awkward decision, even though they are loath to sell to a Premier League rival.

Arsenal, who are in a position of greater financial strength due to renegotiated commercial contracts, have also lined up a £23m deal for Gonzalo Higuaín of Real Madrid while they want a midfielder to play with Arteta and, possibly, a new goalkeeper.

Arteta feels that the prospective additions are essential if the club is to compete for a first trophy since 2005 and he noted how a transfer coup would lift the mood of everybody at the Emirates Stadium.

"The club have said they are going to be very ambitious in the market and have got the financial resources to get big players," Arteta said. "I think it's about time. When you compare us to the other top English clubs and the money they have paid, we are very far apart. The value of this club is the class and what it means is very difficult to match. Now, financially, they are very strong so maybe we will be more aggressive in the transfer market. There has never been a tradition at Arsenal to pay crazy, crazy money.

"I am excited. They made it public that they are going to go big and the sort of players they have been linked with makes me happy.

"It creates a good atmosphere and we need to do something because the other teams are doing it, and I think we will.

"I believe we can be contenders again but it also creates a genuine atmosphere for the fans and they need that because we haven't won trophies in the last years. They need something back. I believe in what we have but if we can strengthen a bit, then we are going to make the gap with the other teams much closer. That's what we're looking for."

Arteta recalled last summer, when Robin van Persie made the high-profile and morale-sapping defection to Manchester United. Alex Song also left for Barcelona, while the previous time out, Cesc Fábregas and Samir Nasri departed for Barcelona and Manchester City respectively.

Arsenal, though, will not lose any stars this summer and it feels as though they are on the front foot.

"There's a difference [in spirit] when you are trying to sell players and when you are trying to buy," Arteta said. "The difference between those two concepts is very big. If we do well [in the transfer market], I think you will see the difference on the pitch. We're not that far away. The fact that we haven't won it [a trophy] for eight years makes it harder mentally to believe but that's what we need to do.

"I was disappointed when Robin left. He was the best player in our team, he made the difference for us. I didn't want him to go but we had to accept that he wanted to move on to a new challenge."

The midfielder Alex Oxlade-Chamberlain also spoke of the side-effects of a statement signing. "Whenever a new player comes into any team, it adds competition for places, which gets the best out of the players and keeps everyone on their toes," he said.

"As a football fan, new signings at any club excite me. Even when I see new signings at my old club, Southampton, you always take notice. You always think about what that could change in the team."